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Study: Consumers willing to shell out extra dollars for car technology

AutoTrader study finds consumers are willing to shell out additional money for in-car technology, as connected services increases higher
By: Michael Hatamoto | Technology in Vehicles News | Posted: Jan 5, 2015 9:14 pm
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More than half of consumers are willing to pay up to $1,499 extra to get connected vehicle features, with 50 percent saying they will wait up to 12 months to ensure they get all of the features they are looking for.

 

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The survey found that 55 percent of car owners say having access to Pandora, Spotify and other streaming services helps make the drive more comfortable. Furthermore, 52 percent of survey respondents think automakers should invest resources in creating their own infotainment systems.

 

"Consumer electronics are quickly becoming a spectacle in the automotive industry thanks to the development and demand for car technology," said Michelle Krebs, senior analyst at AutoTrader.com, in a press statement. "It's important to know that consumers are spending more time and money on car technology and they are particular about what they're buying."

 

Connected vehicle technology is more affordable and has spread from luxury vehicles to economy cars - and the rise of smartphones - has accelerated functionality auto buyers expect from new vehicles.

NEWS SOURCES:Prnewswire.com, Autotrader.com, Stmicroelectronics.com.cn

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